The Chase Sapphire Preferred credit card stands out in the market for its incredible benefits and valuable rewards. Ideal for those who always want to earn on every purchase, it offers an excellent points program.
Additionally, it provides global acceptance and can be used as a payment method in both physical and online stores. Due to these features, this card receives significant recognition in the financial market.
If you are looking for a card that offers more than the basics, keep reading to discover why this option offered by JPMorgan Chase & Co. might be perfect for enhancing your finances.
About the Issuer
The Chase Sapphire Preferred is issued by JPMorgan Chase & Co., one of the largest and oldest financial institutions in the United States. Founded in 1799, Chase has extensive experience in the banking sector and is widely recognized for its stability and innovation.
The bank offers a diverse range of financial products and services, including credit cards, loans, investments, and personal and commercial banking services.
With more than 5,000 branches and 16,000 ATMs across the country, Chase provides convenience and accessibility to its customers. Additionally, Chase is known for its commitment to security and the protection of customer data.
Benefits
60,000 Points Sign-Up Bonus: By spending $4,000 in the first three months of card ownership, you earn 60,000 bonus points. These points can be redeemed for up to $750 in travel when booked through the Chase Travel portal.
Annual $50 Hotel Credit: Each year, you can receive $50 in credits for hotel stays booked through the Chase Travel portal. This is an easy way to offset part of the card’s annual fee.
10% Annual Points Bonus: On your card anniversary date, you receive a bonus equal to 10% of the total purchases made in the previous year. For example, if you spent $25,000, you will receive 2,500 additional points.
No Foreign Transaction Fees: When using your card outside the U.S., you will not pay international transaction fees, a significant saving for frequent travelers.
Travel Insurance Coverage: The card offers trip cancellation and interruption insurance, coverage for delays and lost luggage, as well as emergency assistance during travel. These coverages can save you hundreds of dollars in case of unforeseen events.
Car Rental Insurance Protection: With primary car rental insurance coverage, you are protected against collision damage or theft, both in the U.S. and internationally. This eliminates the need to purchase additional insurance from rental companies.
Chase Sapphire Preferred – Fees and commissions
The Chase Sapphire Preferred has an annual fee of $95, which is relatively low considering the benefits it offers. There are no foreign transaction fees, which is a significant advantage for those traveling abroad.
Furthermore, the card allows holders to accumulate 75,000 reward points by spending $4,000 in the first three months, equivalent to $750 in travel when redeemed through Chase Ultimate Rewards.
The annual purchase percentage rate (APR) ranges between 29.49% and 28.49%, directly depending on your credit quality. In case of late payment, the bank applies a $40.00 fee.
Card limit
The credit limit of the Chase Sapphire Preferred varies according to the applicant’s financial profile. Initially, the limit may be lower but can increase over time and with responsible card use.
The ability to manage a high credit limit is essential to make the most of the rewards and travel protections offered by the card, and it’s also important to avoid debt.
If your goal is to have a credit card with a high limit, it’s recommended to always maintain a good relationship with the bank and pay your bills on time. This way, the financial institution will be confident in raising your limit over time.
Positive points
- REWARDSEarn points on purchases made with your card.
- TRAVEL PROTECTIONIncludes car rental insurance, trip cancellation insurance, and delay reimbursement.
- NO FOREIGN TRANSACTION FEESIdeal for international travel.
Negative points
- ANNUAL FEE$95 can be an obstacle for some consumers.
- LIMITED REWARD CATEGORIESNo bonus points for categories like gas or physical supermarkets.
- REQUIRES GOOD CREDITRequires a good credit history for approval.
How to apply for Chase Sapphire Preferred
To apply for the Chase Sapphire Preferred, follow these steps:
- Visit the official Chase website;
- Select the Chase Sapphire Preferred card;
- Choose between the options “Apply as a guest” or “Sign in to apply faster”;
- Fill out the form with your personal and financial information;
- Review the terms and conditions;
- Submit the application and wait for approval.
How to contact Chase Bank
If you want more information about the Chase Sapphire Preferred, be sure to contact Chase Bank:
- Phone: 1 800 935 9935
- Branches: Visit a physical bank branch for personalized service
- Online: Visit the official Chase website and access the customer service section
The Chase Sapphire Preferred is an excellent option for those looking to maximize their travel rewards and enjoy robust protections. With an affordable cost and a wide range of benefits, it remains a favorite among American consumers.
